Mayors: Cryptocurrency won’t solve your cities’ problems

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Miami Mayor Francis Suarez wants to make his city the world’s cryptocurrency capital. New York City Mayor Eric Adams’ first paycheck was automatically converted to bitcoin and ethereum. And in Jackson, Tenn., Tampa Bay, Fla., Austin, Texas, and other cities across the country, mayors are embracing cryptocurrencies.

These mayors want to strike “digital gold” for their cities and boost economic growth by attracting cryptocurrency and blockchain companies. Some even believe cryptocurrencies may be a way to address income inequality or provide alternative payment methods for unbanked and underbanked residents.


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